What occurs in Step 2 during appraisal?

In Step 2 of the appraisal process, producing a first draft of the strategic case section is a critical activity. This step focuses on articulating the strategic rationale for the project or initiative being evaluated. The strategic case outlines how the project aligns with the organization’s goals and objectives, ensuring that there is a clear understanding of the necessity and relevance of the initiative within the larger context of the organization’s strategy.

This includes consideration of the potential benefits, risks, and impacts of the project as identified in earlier stages of the business case development. By generating a first draft at this point, stakeholders can begin to see the connections between the proposed project and its strategic alignment, paving the way for further discussion and refinement in subsequent steps.

The other activities mentioned, such as finalizing financial forecasts, conducting stakeholder interviews, and analyzing market conditions, are typically part of other steps in the appraisal process and serve different purposes within the overall business case development framework. These activities may inform or support the strategic case but do not specifically involve the drafting of that critical section.